OCS Rumors Swirling

[USF03]

Jan 31, 2007 Statement by Mall Owner:

Current Status of Mall Disposition Program

   * University Mall (Tampa, FL) - the Company has several prospective buyers interested in the property and expects to have a formal sales contract in place shortly. Based upon current interest in the property, the Company expects a sale of the asset at a significant gain during the first half of 2007.

http://www.glimcher.com/pages/press/index.jsp

[USF03]

Jan 31 2007

"University Mall, which represents over 60% of the dollar value of the original mall disposition program, has attracted interest from institutional investors and we are optimistic about the pricing and ultimate execution on the sale of this property," stated Michael P. Glimcher, President and CEO.

Current Status of Mall Disposition Program

   * University Mall (Tampa, FL) - the Company has several prospective buyers interested in the property and expects to have a formal sales contract in place shortly. Based upon current interest in the property, the Company expects a sale of the asset at a significant gain during the first half of 2007.

http://www.glimcher.com/pages/press/index.jsp

Now, this could just be me wanting USF to buy this place... but does INSTITUTIONAL INVESTORS mean a big time investor or an INSTITUTION like USF, or our backers (foundation).  Dr. Genshaft DID say that we will be raising up to a billion in our fundraising campaign, and stated their will be good surprises.  Could this purchase be part of it?

[USFan]

oh oh

Second round... get ready!

I hope it happens.

[USFMikeB]

Institutional Investors = FINANCIAL Institutions.  That means it will likely end up as an asset in an REIT.

[USF03]

BTW: I'm about 90% sure that "institutional investors" means a big time investment company (like the company that owns UMall already).  But, none the less, it's one way I could spin it to be USF.

[USFMikeB]

I'm 100% certain that "institutional investors" means "financial institution" and not "educational institution"...

[USF03]

Well, none the less, we know people are looking at it now...

[USFMikeB]

The mall will NOT be bought by USF.  Let's get real guys, USF will not pay that price tag.  I don't mean to be rude, but I'm getting really tired of the lack of realisticness displayed by so many of the people on this board.  Buying that land would double the cost of a stadium, THINK about that for a few minutes.  Sigh.

[Jihme]

anyone have a cost idea for what it cost the bucs to tear down the mall and put up its facilities?

[Rabbi Bull]

USF is not buying the university mall, it costs too much money, and it is sold in 6 parts, each part costs something like $100 million.  so there is no way USF is buying that lot.